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Not-for-Profit Accounting, Tax, and Reporting Requirements

Not-for-Profit Accounting, Tax, and Reporting Requirements

Edward J. McMillan

ISBN: 978-0-471-48133-1

Mar 2004

192 pages

Select type: E-Book

$60.99

Description

Learn how to apply for tax-exempt status, handle IRS audits, set up a wholly owned taxable subsidiary, and anticipate tax implications of lobbying expenses with this step-by-step guide. Complete with checklists, sample letters, and illustrative charts, this easy-to-understand reference is an important resource for every not-for-profit executive who deals with financial issues.

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List of Exhibits.

Preface.

Chapter 1. Classification of Tax-Exempt Organizations. 

Chapter 2. Disclosure of Information.

Chapter 3. Using CPA Firms and Understanding Their Functions.

Chapter 4. Internal Revenue Services Audits.

Chapter 5. Tax on Unrelated Business Income and Form 990-T.

Chapter 6. Wholly Owned Taxable Subsidiaries.

Chapter 7. Restricted-Fund Transactions.

Chapter 8. Internal Control.

Chapter 9. The Accounting Policies and Procedures Manual.

Chapter 10. Tax Implications of Lobbying Expenditures.

Chapter 11. Other IRS Issues.

Chapter 12. IRS Filing Requirements and Forms.

Chapter 13. The Basics of Not-for-Profit Accounting and Financial Statements.

Chapter 14. The Basics of Intermediate Sanctions.

Chapter 15. The Basics of Filing IRS Form 990.

Appendix A: Statement of Financial Accounting Standards #117: Financial Statements of Not-for-Profit Organizations.

Appendix B: Statement of Financial Accounting Standards #116: Accounting for Contributions Received and Contributions Made.

Appendix C: Statement of Financial Accounting Standards #124: Accounting for Certain Investments Held by Not-for-Profit Organizations.

Appendix D: Statement of Financial Accounting Standards #136: Transfer of Assets to a Not-for-Profit Organization or Charitable Trust that Raises or Holds Contributions for Others.

Glossary.

Index.

This completely revised and expanded third edition of Essential Accounting, Tax, and Reporting Requirements for Not-for-Profit Organizations offers a comprehensive, up-to-date overview of key financial requirements. This step-by-step guide will help not-for-profits apply for tax-exempt status, handle IRS audits, set up a wholly owned taxable subsidiary, and anticipate tax implications of lobbying expenses.
Written by nationally-recognized speaker Ed McMillian, this authoritative handbook:
  • Includes three all new chapters.
  • Contains dozens of sample forms, letters, and statements.
  • Inlcudes a glossary of relevant terms and a full index.